Origins
In 1930 the "Ministerio de Fomento" of the Gómez government granted a concession to Félix A. Guerrero to build and operate a telephone network in the Federal District and the States of the Union. With fellow shareholders Manuel Pérez Abascal, an entrepreneur, and Alfredo Damirón, an attorney, they registered Compañía Anónima Nacional Teléfonos de Venezuela on 20 June 1930.
On 31 December it became the local operating company for the assets of the Venezuelan Telephone and Electrical Appliances Company Limited, an English firm which had been operating in Venezuela for 40 years between Caracas and Puerto Cabello, San Juan de Los Morros, Ocumare del Tuy and Macuto, and had recently acquired the Maracaibo telephone company in 1929. The foreign company, renamed telephone Properties Ltd, still held 100% of the ordinary shares in the Nacional company, and maintained its investment; at the time of transfer it was in the process of automating its network of exchanges.
After a commission spent several years enquiring into ways of expanding the service, in 1953 the government announced its intention to acquire 100% of the shares of Cantv at a price of US$7.1M, as part of the state's program of nationalization. Over the following years it bought up the other privately owned telephone companies, the last one being Compañía de Teléfonos de San Fernando de Apure which it acquired in 1973.
Read more about this topic: CANTV
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